Italy moves toward exclusive talks with Azeri consortium over Ilva steelworks

Baku Steel-led group selected after review of acquisition offers

The extraordinary commissioners of Acciaierie d’Italia in AS and ILVA in AS have asked the Ministry of Enterprises and Made in Italy for authorization to start exclusive negotiations with an Azerbaijani consortium led by Baku Steel Company CJSC and Azerbaijan Investment Company OJSC for the acquisition of Acciaierie d’Italia (ADI), the Italian steelmaker based in Taranto and formerly known as Ilva.

The decision, according to the official press release, follows a careful and in-depth review of the proposals received for the relaunch of the steel group.

The selection process evaluated several aspects, including the financial strength of the bidders, the industrial sustainability of their plans, and the potential benefits for employment and local communities.

Given the complexity of the negotiations concerning the future of the steelmaking hub, discussions will proceed with the necessary confidentiality, ensuring protection of the industrial, employment, and social interests at stake.

Ten bids, three full-scale proposals

In January, the Azerbaijani consortium—comprising Baku Steel Company CJSC and Azerbaijan Investment Company OJSC—was one of three bidders submitting proposals for the entire business complex of Acciaierie d’Italia, alongside Bedrock Industries Management Co Inc and India’s Jindal Steel International, while seven other offers focused on individual assets.

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